Investment
Kilroy Buys 220 KSF Office Campus in San Diego Suburb for $126M
The Heights at Del Mar, a 219,000-square-foot office and life science campus in the coveted Del Mar Heights submarket of San Diego, is now part of Kilroy Realty Corp.’s portfolio. The REIT acquired the premier two-building, 15-acre asset from Prudential for $126 million.
W.P. Carey Buys Government-Occupied Office Asset in Manchester
W.P. Carey has bought an office asset in the third largest city in the U.K. from the Department of State for Communities and Local Government for $62 million.
HFF Arranges $99M Financing for M-U development in DC
Washington, D.C.’s U Street/North Shaw submarket will see a former plumbing supply company transformed into a 375-unit, Class A, mixed-use development aimed at young professionals.
Cypress Equities Buys 350 KSF Alabama Power Center
Cypress Equities, acting through a fund managed by its real estate investment management group, adds a third Alabama retail property to its portfolio with the acquisition of Promenade Tannehill, an approximately 350,000-square-foot regional power center in the suburban Birmingham town of Bessemer.
Brookfield Sells 620 KSF Suburban Dallas Office Campus to GI
The one-year office flip is not as common as it was before the real estate market downturn but it still happens, and Brookfield Asset Management’s Brookfield Real Estate Opportunity Fund II recently completed just such an endeavor with the disposition of Regent Commons in Irving, Texas.
Tucker Secures $218M in Financing for Phase I of 1 MSF M-U Development in Fort Lee, NJ
A JV of Tucker Development, Ares Management and Kushner Real Estate has secured $218 million in financing for the initial phase of Hudson Lights, a 1 million-square-foot mixed-use redevelopment of an eight-acre site located at the base of the entrance to the George Washington Bridge in the heart of downtown Fort Lee, N.J.
HFF Arranges $114M Financing for Cousins’ 775 KSF Office Tower in Atlanta
When obtaining the billion dollars in cash for a recent office portfolio purchase, Cousins grabbed a little bit from here, a lot from there and additional funds from the $114 million financing of its 774,000-square-foot Promenade office building in Atlanta.
Orbach Buys 33-Building M-F Portfolio in Manhattan for $250M
In a two-part transaction, The Orbach Group has purchased a 33-building, 1,031-unit high-end multi-family portfolio on Manhattan’s Upper West Side for about $250 million.
Clarion Buys ‘Jewel Box’ Boston Building for $54M
One Liberty Square, a 13-story, 157,500-square-foot office building in Boston’s financial district, has been purchased for $54 million by Clarion Partners.